Tag archives for Delinquent Loans

42 Percent of Delinquent Homeowners Haven’t Made a Payment in Over a Year

According to information released in July by Lender Processing Services (LPS), fully 42 percent of all delinquent homeowners have not made a payment on their mortgage in more than a year. The average time of delinquency is 397 days, a new record. Despite these foreboding numbers, though, other statistics looked brighter, with first-time foreclosure starts at nearly three-year lows and Read full article »

Average Foreclosure Timeline 587 Days

Foreclosure processing timelines are just getting longer, with the average loan in foreclosure today delinquent by 587 days. And while the number of actual foreclosures is down, the number of loans in foreclosure or “seriously delinquent” (more than 90 days past due) has been reported as up 12.8 percent over last year, though it should be noted that this number Read full article »

No More Foreclosure Extensions on Short Sales from Wells Fargo

Wells Fargo will no longer be granting extensions on foreclosures to homeowners attempting to complete a short sale. The lender stated that its investors have had a number of concerns regarding the time it takes to complete short sales, and is implementing the policy “in order to stay consistent between short sale transactions”.  There will be some moderate exemptions to Read full article »

Majority of Homeowners Opting Out of Loss Mitigation Entirely

While the news is full of climbing short sale rates and the “success” of the myriad federal programs in place to help homeowners deal with the housing crisis, a new report from the State Foreclosure Prevention Working Group (SFPWG), a group that compiles and analyzes information from state attorneys general and bank supervisors around the country, indicates that fully 60 Read full article »

The Politics of Real Estate

Few industries are as profoundly impacted by the political machinations in Washington as the real estate industry. Whether it's old legislation like Jimmy Carter's Community Reinvestment Act or Barack Obama's massive mortgage bailouts, the U.S. political machine has a huge impact (usually bad) on the business of real estate.

Ideally, we could ignore politics. But here at the Bryan Ellis Real Estate Letter, we insist on seeing the world with clarity - including the reality of Washington's aggressive involvement in every facet of our business, from mortgage lending to real estate sales license; from loan modification regulations to appraisal requirements... every piece of our business is profoundly impacted by politics. So rather than stick our heads in the sand and ignore reality, readers of the Bryan Ellis Real Estate Letter choose to be informed and prepared.

About Bryan Ellis

Bryan Ellis is an Atlanta-based real estate analyst and publisher of the widely read newsletter "The Bryan Ellis Real Estate Letter". With over 200,000 subscribers - including real estate investors, agents, brokers, appraisers and other real estate professionals - the Bryan Ellis Real Estate Letter is among America's largest sources of unbiased coverage of politics and public policy for the real estate industry.

Bryan Ellis serves as editor in chief for the Bryan Ellis Real Estate Letter and is assisted by an extraordinary staff of writers, researchers and editors who are each real estate experts in their own right and who assure that the news we report is well researched, factual, and highly relevant to today's real estate industry.

Bryan is very happily married and has two wonderful daughters. He makes his home in the suburbs of Atlanta, Georgia. You can contact the team at the Bryan Ellis Real Estate Letter here.